Maire Tecnimont Group's NextChem And Indian Oil Corporation Sign India's First Circular Economy MoU

Energy Press Releases Wednesday November 4, 2020 08:10
MILAN--4 Nov--PRNewswire/InfoQuest

Maire Tecnimont S.p.A. announces that NextChem, the Group's subsidiary dedicated to green chemistry and technologies for the energy transition, and Indian Oil Corporation Ltd. (IndianOil), today have signed a Memorandum of Understanding for the development of industrial projects using NextChem technologies to industrialize circular economy in India. The projects will be focused on plastics recycling, producing biofuels from renewable feedstock and circular fuels and chemicals from non-recyclable waste.

IndianOil is India's national integrated oil company engaged in the entire energy value chain (Oil, Natural Gas as well as non-conventional sources). Under the agreement, IndianOil and NextChem will jointly explore opportunities for waste valorization by utilizing NextChem's technologies for plastic waste Upcycling and Waste-to-Chemicals solutions. NextChem, relying on the historical presence of the Maire Tecnimont Group in India (over 2,200 engineers and about 3,000 E&I[1] professionals in Mumbai), will guarantee technological solutions and best know-how for project development and execution.

IndianOil is working to develop a sustainable business model of closed loop ecosystem of waste-plastics under its "Plastic Neutrality Initiative" and it is looking for partners who can contribute to addressing the end-life management of plastic wastes in India. IndianOil intends to introduce recyclates as a new line of product portfolio in addition to the existing virgin polymers business. NextChem is developing technological solutions to generate value from waste, providing its contribution by scouting, pivoting, industrializing and commercializing a portfolio of sustainable technologies.

Pierroberto Folgiero, Maire Tecnimont Group and NextChem CEO, said: "We are really proud to be partner of choice in the first industrial initiative in India's circular economy with such a prestigious player as Indian Oil Corporation. The Country needs to rapidly develop a sustainable system to recycle waste to enhance their value via chemical conversion, by introducing available technologies. We can support this transition with our expertise in circular economy and our capability in managing complex technological projects."

Maire Tecnimont S.p.A., listed on the Milan Stock Exchange, heads an industrial group which leads the global natural resource processing industry (downstream plant engineering, with technological and executive expertise). NextChem operates in the field of technologies to support the energy transition. The Maire Tecnimont Group operates in 45 countries through 50 companies and counts about 9,100 people. www.mairetecnimont.com.

[1] Electrical and Instrumentation
Logo - https://mma.prnewswire.com/media/1326247/Maire_Tecnimont_Logo.jpg

Latest Press Release

Sinopec kickstarts extensive research on CO2 emissions peak and carbon neutral

China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") has established strategic cooperation with three top institutions on November 23 in Beijing, China, to take lead in a joint research on the energy and chemical industry's carbon emissions...

Dual String Gas Lift First Helps South East Asia Operator Achieve Digitalization Vision

Silverwell has completed the world's first successful offshore installation of an intelligent dual string gas lift completion for a client in South-East Asia. Two independently surface-monitored and controlled gas lift production optimisation systems...

Shipments of LONGi high-efficiency bifacial modules reach 10GW

Shipments of LONGi's high-efficiency bifacial modules have now reached 10GW, with expectations that production will reach 12GW by the end of 2020. Bifacial modules are now one of the more mature developments in solar panel technology. Thanks to their...

Saudi Arabia's Electricity Sector Undergoes Largest, Most Comprehensive Transformation On A Global Scale

Expected outcomes include more efficient power generation, increased reliability of service, reduction in the use of liquid fuels for electricity generation, and creating a more financially viable and sustainable sector A press conference was held on...

Ascend introduces HiDura(TM) long-chain polyamides

Ascend Performance Materials has launched several new grades of its HiDura(TM) long-chain polyamides for engineered plastics, monofilaments and cable ties. HiDura polyamide 610 and 612 are designed to provide exceptional dimensional stability and long...

Related Topics